Power of Attorney

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A “Power of Attorney” is a legal instrument whereby one person gives another person the authority to act on his/her behalf as his legal representative and to make binding legal and financial decisions on his/her behalf. In Strouds judicial dictionary “Power of Attorney is defined extensively as an authority whereby one is set in the stead or place of another to act for him. It is pertinent to mention here that a person need not be a lawyer to hold a Power of Attorney as an Agent for someone else. The Power of Attorney can grant considerable powers to third party to act on your behalf. Therefore, before you sign your name to legal contracts, you should give careful consideration to the person to whom you choose to grant those powers, and whether any limits should be imposed in the time the Power of Attorney will last, or in its scope. Granting a Power of Attorney is a legal process that involves the drafting of a document which assigns to another person the power to act as your legal representative. Every adult has day-to-day affairs to manage. Many a times even when joint ownership situations exist it is not possible for a spouse or child to act for in the event of catastrophic illness or injury to him. The lack of properly drafted and executed Power of Attorney can lead to a lot of complications when an individual is incapacitated due to severe illness or injury rendering him/her, unable to travel, unable to make decisions or manage financial and medical affairs. It often happens that, due to ignorance of law, people fail to make a proper Power of Attorney. It must be remembered that it is preferable that one should make a Power of Attorney to avoid the inconvenience and expense of legal proceedings. It must be done while the Principal is competent, alert and aware of the consequences of his/her decision. The Power of Attorney can be effective immediately upon signing or only upon disability. Some examples of legal powers contained in the Power of Attorney are the following ( only inclusive not exhaustive)

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